Consider the following statements: Which of the following statements is/are correct?
1. Fitch Rating, an international credit rating agency, stated that the interim Budget of 2024- 2025 by the Government of India does not change the sovereign credit profile of India.
2. Fitch Ratings estimates India's fiscal deficit for the financial year 2024-2025 (FY25) to reach 6.4% of Gross Domestic Product (GDP), which is above the budget target of 5.1%.
3. Targeting 5.1% of the GDP deficit in FY25 demonstrates the government's commitment to reduce the deficit and achieve the deficit target of 4.5% by FY26.
4. The government revised the FY24 fiscal deficit to 5.2% from 5.9% budgeted for the year.
1
Only 1
2
Only 4
3
Both 1 & 3
4
Both 2 & 3
5
Both 3 & 4